Gvo Hospitality Corp. Leases Retail Space in SoHo from Related for $110/ft.
Related has leased 2,517 square feet of retail space at 261 Hudson Street in SoHo to Gvo Hospitality Corp. for $110 per square foot.
Gvo Hospitality Corp. has signed a lease for 2,517 square feet of retail space at 261 Hudson Street in SoHo, according to sources familiar with the deal. The space was leased from Related for $110 per square foot. The landlord was represented by Patrick O’Rourke and Sean Moran of Cushman & Wakefield, while Jordan Raphan of KSR represented the tenant.
The property is located in the heart of SoHo, one of the most desirable retail markets in New York City. The area is known for its high-end fashion boutiques, art galleries, and trendy restaurants. The building at 261 Hudson Street is a six-story, mixed-use building with retail space on the ground floor and residential units above.
Gvo Hospitality Corp. is a hospitality company that operates a portfolio of luxury hotels and restaurants in New York City and around the world. The company is known for its high-end properties and exceptional service. The new retail space in SoHo will be used to showcase the company’s latest offerings and provide a unique shopping experience for its customers.
Related is a leading real estate development and investment firm with a portfolio of properties across the United States. The company is known for its innovative designs and commitment to sustainability. The lease of the retail space at 261 Hudson Street is part of Related’s ongoing efforts to revitalize the SoHo neighborhood and attract new tenants to the area.
The lease of the retail space at 261 Hudson Street is a significant deal for both Gvo Hospitality Corp. and Related. The property’s prime location in SoHo, combined with the high-end nature of the tenant, makes this a valuable asset for the landlord. For Gvo Hospitality Corp., the new retail space provides an opportunity to expand its brand and showcase its offerings in one of the most desirable retail markets in the world.
Overall, the lease of the retail space at 261 Hudson Street is a positive sign for the commercial real estate market in New York City. Despite the challenges posed by the COVID-19 pandemic, demand for high-end retail space in desirable neighborhoods like SoHo remains strong. As the city continues to recover, we can expect to see more deals like this in the coming months and years.